Wellgreen Platinum Ltd. (TSXV:WG,OTCQX:WGPLF) announced further results from the field program at its Yukon-based Wellgreen platinum-group metals-nickel-copper project, commenting that mineralization identified late last year in the Far East Zone extends to the west by about 300 meters into the East Zone; it also remains open.
Greg Johnson, president and CEO of Wellgreen, commented:
After demonstrating that mineralization continued 300 metres to the east of hole 215 in the Far East Zone, we are pleased to report that the same mineralization also continues a similar distance to the west into the East Zone. This higher grade zone of mineralization which typically exceeds 2.5 g/t Pt Eq. now shows continuity over at least 600 metres in strike length, 500 metres width and 100 to 350 metres in thickness within a much larger mineralized body.
The higher grade zone also contains a subzone that ranges from 30 to 80 metres in thickness with mineralization between 3 and 6 g/t Pt Eq. This is an exciting development as this material may be amenable to bulk underground mining and may be combined with near surface higher grade zones that have been identified as potential starter pits along the length of the Wellgreen deposit. These results are confirming the predictability of the geologic model for the deposit and will be important for advancing the Wellgreen project to the next level of confidence on the resource estimate update and preliminary economic assessment targeted for Q2 2014. In addition, our technical team has identified a number of compelling targets that remain open to further expansion from future drilling.